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Markets roiled by Bernanke's exit strategy
Markets were roiled Thursday by a suggestion from U.S. Federal Reserve chairman Ben Bernanke that the central bank may be done with its monetary stimulus next year. While stocks and commodities took a pounding on the news, the dollar surged. For nearly five years, the Fed has been pursuing an ...
Car quality dinged by tech glitches, survey finds
Car buyers increasingly want high-tech features like voice recognition and navigation. But they're not very forgiving of the car company when those systems fail. The top complaints in J.D. Power's closely-watched survey of new vehicle owners, released Wednesday, involved technologies that drivers are clamoring for. Voice recognition systems either didn't ...
Chrysler agrees to recall of Jeeps at risk of fire
After initially defying federal regulators, Chrysler abruptly agreed Tuesday to recall some older-model Jeeps with fuel tanks that could rupture and cause fires in rear-end collisions. But the recall, which came in an 11th-hour deal between the automaker and the National Highway Traffic Safety Administration, covers only 1.56 million of ...
Asia Markets mostly down as investors eye Fed
Asian markets opened mostly lower Wednesday as investors waited for an update on the U.S. economy from the Federal Reserve and for some clarity from the Fed about its future course. The results of a two-day Fed policy meeting will likely ripple through stock markets once investors learn whether there ...
US safety agency investigating Suzuki small SUVs
U.S. safety regulators said Tuesday that they are investigating problems with air-bag sensors in the seats of some small Suzuki SUVs. The probe covers 205,000 vehicles including Grand Vitaras from the 2006 through 2011 model years and SX4s from 2007 through 2011. The National Highway Traffic Safety Administration said on ...
Chrysler expected to formally refuse Jeep recall
In one of the biggest-ever showdowns between an automaker and the government, Chrysler on Tuesday is expected to file papers explaining its refusal to recall 2.7 million older Jeep SUVs that are at risk of catching fire in rear-end collisions. The government says 51 people have suffered fiery deaths in ...
Porsche family buys back stake from Qatar fund
Descendants of German automobile entrepreneur Ferdinand Porsche have bought back a 10 percent stake in their holding company from Qatar's sovereign wealth fund. Carmaker Porsche confirmed the transaction Monday but didn't reveal the sales price. The Porsche and Piech families are now again the sole shareholders of Porsche Automobil Holding ...
Ohio man charged in $10M real estate scam
A Pakistan native has been charged with bilking a wealthy Washington businessman out of nearly $10 million, but it's the flashy way prosecutors allege Haider Zafar spent the money that's also getting attention. There were bodyguards, diamonds, six-figure bills charged partying at swanky South Beach hotels, a black Lamborghini, a ...
Business Highlights
_____ Microsoft brings Office to iPhone, but not iPad NEW YORK (AP) — Even as a pared-down version of Microsoft's Office software package arrived on the iPhone, the company is holding out on extending that to the iPad and Android devices as it tries to boost sales of tablet computers ...
Chrysler freezes pension plan for 8,000 employees
Chrysler Group LLC said Friday that it is freezing the pensions of roughly 8,000 U.S. salaried employees at the end of the year. The U.S. automaker said it is making the move to stay in line with industry trends and to comply with IRS regulations. The Auburn Hills, Mich.-based company ...
NC Gov. Pat McCrory cheers on UNC energy savings
Gov. Pat McCrory is praising a University of North Carolina system energy efficiency initiative estimated to save $25 million. McCrory said Friday in a statement that the UNC Board of Governors will save $25 million in taxpayer money over seven years through the installation of energy-efficient lighting fixtures and other ...
US factory output rises just 0.1 percent in May
U.S. factories barely increased their output in May after two months of declines, a sign that manufacturing is providing little support for the economy. The Federal Reserve said Friday that factory production rose just 0.1 percent in May from April. Output fell 0.4 percent in April and 0.3 percent in ...
Honda recalling 104,500 cars to fix brakes
Honda is recalling 104,500 cars in 49 countries worldwide to fix problems with the brakes. In the U.S., the recall covers more than 18,000 Acura RSX compact cars from 2006 and the Honda S2000 sports car from the 2006 and 2007 model years. About 70,000 of the recalled cars were ...
GM's Opel unit to start building cars in Belarus
General Motors Co.'s European Opel unit says it will start assembling cars for Russia and other eastern markets in Belarus next year. Germany-based Opel said GM signed an agreement Thursday to start building its Corsa model at facilities owned by partner Unison in Belarus. The cars will be sold in ...
Asian stocks slide led by Tokyo on worries
Asian stocks slid in early Thursday trading as gyrations on the Tokyo market, the region's biggest, continued — fueled by worries about a surging yen and monetary policies in the U.S. and Japan. Japanese media reports said overseas hedge funds may be dumping Japan's equities following a disappointment earlier in ...
Cooper CEO says buyer committed to US operations
A tire maker whose main market is in India is buying Ohio's Cooper Tire & Rubber Co. for $2.2 billion and making a commitment to maintain the company's three U.S. manufacturing plants and retain its management operation in Ohio, Cooper's chief executive said Wednesday. India's Apollo Tyres Ltd. said the ...
Stocks slide on Wall Street; Dow below 15,000
The stock market ended lower Wednesday as traders looked ahead to a critical Federal Reserve meeting next week. Without any major economic news, traders grappled with the question hanging over financial markets: When will the Fed and other central banks pull back their economic stimulus programs? The Dow Jones industrial ...
Fiat: supplier delays will force shutdowns
Italian carmaker Fiat says it will temporarily stop production at some European car plants in the coming days due to insufficient deliveries of plastic parts. Fiat said in a statement Wednesday that more than 5,500 vehicles can't be completed due to missing components from the Italian supplier Selmat, creating an ...
NC Senate broadens concealed-carry expansion bill
A North Carolina Senate panel backed a measure Tuesday that would expand a House effort to open new areas for concealed-carry permit holders to take or store weapons and eliminate requirements to obtain a license to purchase a handgun. The bill endorsed by a Senate judiciary committee takes a broader ...
Brazil govt to perform crash tests after AP report
After a decade of spiking fatalities from passenger car wrecks, the Brazilian government said Monday it plans to build its first auto crash test facility in an effort to improve the poor safety record of vehicles built and sold in the world's fourth-largest automobile market. The decision comes a month ...
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